Tawana eager to push Mofe Creek project into production
JOHANNESBURG (miningweekly.com) – Iron-ore-focused Tawana Resources continues to advance its flagship Mofe Creek project, in Liberia, noting on Monday that it remained in discussions with potential strategic partners, product offtakers, debt providers and financiers, to facilitate its development.
The company added in an interim results statement for the half-year ended June 30, that engagements with operating and developing iron-ore companies within Liberia, on potential co-sharing arrangements for the use of existing or proposed infrastructure, had been initiated.
Updating the market on the progress of the project over the six months, Tawana reiterated that a scoping study for Mofe Creek had demonstrated the potential for a low capital expenditure, low-cost, high-margin operation with strong net present value and internal rate of return.
Key results for the first stage of development confirmed that a production rate of between 1.2-million and 1.5-million tons a year could be sustained for “minimal” start-up capital of $53-million, with a bottom-quartile operating cost of $43/t.
To further advance development of the project, Tawana initiated a prefeasibility study in July, while an application for a pilot mining and bulk sample extraction licence had been submitted to the Ministry of Lands, Mines and Energy.
“Meetings have been undertaken with the respective Ministers, Ministries, governmental officers, senators and the National Investment Committee to start the approval process for a Mineral Development Agreement for Mofe Creek,” the company said.
Discussions with the National Port Authority of Liberia on the optimal location for a transshipment or direct shiploading wharf near the project site were also ongoing.
Meanwhile, in April, a placement to investment funds and sophisticated investors to raise $5-million was completed, while a further $346 783 was raised by way of a share purchase plan.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...
VISIT SHOWROOM
The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
